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	Thursday, November 25, 2004

Time and Money   ( on life ) "You are bloody wasting  my time!  ", I find myself exasperated and telling some of my colleagues almost shouting. I used to complain about wasting money  ( I still do (grin)) , but after getting older, and so much BUSYness, I find myself complaining more at the slightest wait or wastage of time. I remember the adage Benjamin Franklin used to say, "the road to wealth is as plain as the way to market.  Waste neither time and money ... " These two obviously are the main ingredients of success, and therefore let us put it underneath the microscope ... If you come to think of it, these two can also be related almost to the way that Einstein related energy and matter in his theory of relativity.  And one thing I discover is that knowing how a person values his money and time as well as its relation to each other is actually one of the keys to understanding a person. After all, people who have less money use time to earn or save money, while people who have more money use money to save time, or at least enjoy more wasting it.  That may be the reason why in poorer countries, convenience stores is still not a good idea -- people are willing to walk the extra distance, and buy in open air markets to save money, while in rich countries, people would be willing to pay more to shop with more convenience, and save time. So for people who have expensive technology that will save a lot of time, and finding it hard to sell in a developing country  the answer is really simple -- the potential consumer looks at his plate, sees that he has lots of time, but not lots of money, and is not willing to part with his money to save time.  In contrast to a consumer in a rich country, he simply values his money more than his time. We are all in different stages of valuing time and money, and understanding how a customer values one vis a vis the other could be one very important knowledge to deal and work with him effectively. So there are people who have 10 hours a day to waste, and would not mind wasting it.  And they cannot understand why there are some people who would scream at a few minutes wastage  ( the same way a person who have thousands of dollars to waste cannot understand why there are people who would risk jail for a few dollars) ....  After all, when you are in dire need of money, every cent counts....  So if you are in dire need of time, every minute counts too. I read that Andy Grove, chairman of Intel, and Bill Gates, chariman of Microsoft, have on several ocassions said harsh things also when they feel they were being made to waste time.  These, my friend, are people who are dollar rich, but time poor.  And because they have less of it, they value it more. So next time you meet somebody - do a mental check by yourself - How much time does he have, how much money does he have, and how much is the conversion rate --- His  willingness to spend time to save money, or vice versa? Then of course, there are also people who have plenty of both, and don't mind wasting both, but then that's another story ....  after all, we are talking here about winning ... In closing, I leave you a quote ( I don't remember who said it), "Value time!  Because that is what life is made of! ". Maybe even after what Ben Franklin said, I can consider myself successful when I can afford to waste a little bit of money and not complain.  But nobody can ever say that they have reached a stage where they can afford to waste time! How about you? 5:33:14 PM     comment []   trackback []

	Monday, November 22, 2004

Focus on Things that Lasts    ( in life) This is the ruins of St. Paul Church taken in Macau China. As you may have noted, only the facade remains ( this new facade was reconstructed in 1990.) According to our tour guide, the church was constructed in 1602, a massive basilica with three naves. Unfortunately, in 1835, a fire destroyed the building which was mostly in wood, except for a small part of the facade which was made of stone. Which brings us to the interesting question in business and in life -- I am sure that in constructing this church there were thousands of business and life decisions to be made here and there. Yet the only decision that makes a difference now is only one --- the decision to use a strong and durable material, stone,  to make the facade. http://i7.photobucket.com/albums/y287/wilsonng/stpaulruins.jpg We make hundreds of decisions, in life and inbusiness, mostly which concerns us today, and over the next week. Maybe it is time to think -- will our worries and our decisions now matter ten or twenty years from now? Should we not be worrying about making decisions that matter over a longer period. Are we overly too worried of short term and failing to build something that last? According to Dr Edward Banfield of Harvard University, after more than 50 years of research, long term perspective is the most accurate single predictor of upward social and economic mobility in America. It is more important than family background, education, race, intelligence, connections in determining your success in life and at work. Do you take a long term view?  Are you putting time on thinking of what kind of impact you are going to focus on now that will make a difference, and will matter in 10 or 20 years? Or do you spend almost 100 percent of the time on short term concerns and problems?   9:10:38 PM     comment []   trackback []

	Wednesday, November 17, 2004

Uncomplicating Our Lives  ( on life ) " This, " my wife (holding the bar of soap) told me after I took my bath, "is not for washing the body.  It is for washing the hair." "'that's cool. " I reacted.  And immediately the businessman in me started thinking... Why is shampoo almost always in liquid form?  Is it because it has always been that way?  Isn't it much more advantageous and easier to use and even carry if it is in solid form? But then I remembered something also that Albert Einstein said, " Using two kinds of soap to wash the body just complicates my life too much!" This quote from the great thinker who have grappled with the most complex things in the universe, and in a way he has a point.  He is great not because he was a genius, but because he knew where to focus his genius -- in things that would make a difference. We strive too much to complicate our lives.  Ditto with computers.   But I am willing to bet that the most progress ( and the most money) in technology will be made when it makes our lives simpler ( and will just work in the background without us knowing it).  But then technology can still do only so much.  It will not make our lives simpler if we ourselves choose to complicate it.   Don't you agree? At the risk of sounding unsophisticated,  I now happily put this bar into my travel bag.  I now have one less thing to carry.  It is great for washing the hair AND the body.   In some ways, I will strive also to grapple with some complexities in technology, business and life, and hopefully you will read it here in simple prose -- after all , in the quest for happiness, isn't it plain that we need to uncomplicate our lives? 9:37:02 AM     comment []   trackback []

	Saturday, November 13, 2004

Two Certificates of Accomplishment  (on life) This week, I received 2 certificates. One was from the City University of Hong Kong, where I recently finished my MBA program. I had planned to get an MBA much earlier, but 3 years after undergrad, my father passed away, and being eldest and Asian, I was expected to takeover the family business.  That had kept me busy the next 15 years, before I finally resolved to get one before I hit 40 which I happily did. I started the program with 15 years of business experience, much higher than average, and maybe because of it, I also learned more.  IN fact, just like an experienced musician would be able to decipher and understand more listening to a piece of music compared to the untrained ear, or an accomplished chess player can work out dozens of combination moves on a chess setting compared to a novice player, I was able to benefit better because of the years of experience compared to my classmates.  So it is never too late to get an MBA -- as long as you keep an open mind, and be flexible to make sure you are still able to change if need be.  So the credo should be, "never stop learning, and never cease to change as you learn."  There is inherently no use in learning if you cannot change. The other certificate is from my 10 year old son.   I would like to think that this week, not only on my learned scholar objective, but also on my good father objective, I have made inroads.  I am proud of his creativity ( even if it is just coming from a biased father).  That he had made me a congratulatory certificate hopefully points that notwithstanding a lot of time in the business, I have been there as a father, nurturing his growth, encouraging his creativity, and helping him to become a better person in the future.   2:47:30 PM     comment []   trackback []

	Saturday, November 06, 2004

Which Tator Are you?   ( on life) There are many many variations on understanding what kind of person or manager you are.  I was looking at some sites, and came across this. I modified and added to this a little.  Its a fun way to understand yourself. -Some people do not want to participate in life, but just content to watch while others do the work.  They are the Spectators. -Some people never do anything to help, but just want to find fault, and talk about things.  They are the Commentators. -Some people are looking to cause problems.  Everything is always a problem, and the soup is always too hot or too cold, too sweet or too sour. They are the  Agitators. -Some people always have plans but somehow never get around to doing it.  They are the Hesitators. - Some people spend their lives wanting to be somebody else, and pretending to be not what they are.  They are the Imitators. - Some people spend their lives trying to run other people's lives.  They are the Dictators. - Some people want to become what they want to be, and to help other people become what they want to be.  They are the facilitators. I'd like to be the last. Which one would you want to be? 3:59:07 PM     comment []   trackback []

	Wednesday, November 03, 2004

Its All about Perspective  ( on life) One of my favorite quotes was something I heard ten or so years ago, and all these years it has been with me.  It goes, "All generalizations are wrong, including this one. "  Indeed, life is so interesting, and is never simple, and even in the management, there is always no one theory fits all.  Beware of books or authors that says otherwise....  In short, you have the right to question whatever I write here too. I have had over a dozen comments on my post " when feeling good overcomes being good"  ( you might want to read this first if you háven't) , some of them in private emails, and some in various forums.  While many have been encouraging, I have had some comments that I was being too hard, especially on the children. I understand.  For every situation where people became better because you have been tough, there will be a situation to cite where people grew because you have been encouraging and patient.  So there is really no right or wrong, except on what works on specific circumstances.  My favorite answer in my MBA class was, in three words,  "it all depends", and I got always high grades for it.  Of course, I had to defend what I usually meant, too. Its all about your frame of experience, and the perspective at which you are looking at.  And talking about perspective, a person can only manage his life and his business well if he has the ability to understand different perspectives, and evaluate it accordingly. Curiously, most of the comments come from the United States, and while they defend the way they treat their children by giving unconditional love, they have been mum on being tough on the workplace. In some way, the American way of doing business espouses fending for your own, earning your keep, and that generally engenders the understanding of the manager to be tough on workers standards.  As opposed to communism which espouses the equitable sharing irregardless of contribution,  Uncompromising standards continues to make the US economy the envy of the world.  However, a very logical manager who understand this fails miserably in the house when they cease to be logical, and become emotional.   Yes, we should give unconditional love ( and loads of pocket money ) to our children even if they don't earn it.  But it is well that they understand we will be  the only people doing it, and the world is not going to be kind to them like we parents are, and our unconditional love and money alone is not going to be enough for them to live a happy fulfilled life.   One of the great things I am thankful about was that I grew and live in difficult circumstances, in a country amidst much poverty.  Here you see children who do not know where their next meal is going to come from.   On the other hand, you see rich kids who when they get together comment on what shabby treatment they get at this or that five star hotel, and how their steaks were overcooked.  Their definition of a traumatic experience is being stucked in traffic for 2 hours, or being held up in an airport for four hours.  Understanding that people come from different backgrounds is key.   Its all about perspective.  But I still would like to reiterate on what I write which I believe is a good principle to follow in MOST circumstances -- to our children and to our employees, the more we love them, the more we should help them understand perspective and be uncompromising in helping them become better.  If there is one thing we should develop in them, it should be their talent, and their BACKBONE. 9:35:46 AM     comment []   trackback []